What's Hot: Redevelopment Plans Could Be In Works for Courthouse Building | UrbanTurf's Buying and Selling 101
3.42: Mortgage Rates Reverse Course, Head North

For the first time in six weeks, mortgage rates are moving up.
On Thursday morning, Freddie Mac reported 3.42 percent with an average 0.7 point as the average on a 30-year fixed-rate mortgage. Last week, rates were averaging 3.35 percent, close to the historic low of 3.31 percent.
From Freddie Mac vice president and chief economist Frank Nothaft:
Fixed mortgage rates edged up following a solid employment report for April. The economy gained 165,000 new jobs on net last month, more than the market consensus forecast and the largest monthly increase this year. On top of that, revisions added 114,000 more jobs to February and March as well. All of these factors allowed the unemployment rate to fall to 7.5 percent in April, the lowest since December 2008.
The UrbanTurf Mortgage Rate Disclaimer: The rates reported by Freddie Mac for 30-year mortgages are usually the best rates that the most qualified borrowers can get, so borrowers or those considering refinancing should not necessarily read this news and think that they can go out and get a loan with the quoted interest rate.
Here’s a look at the path of rates since January 2010:

See other articles related to: freddie mac, mortgage rates
This article originally published at https://dc.urbanturf.com/articles/blog/3.42_rates_reverse_course_moving_up/7045.
Most Popular... This Week • Last 30 Days • Ever

In this edition of First-Timer Primer, we look into the question of how to determine ... read »

The preferred mortgage product among most home buyers is the fixed-rate mortgage. How... read »

Here's what you need to know about reporting profit made from the sale of your home.... read »

A Roth IRA is one of those accounts that people feel is totally off limits until you ... read »

The latest edition of What $1.5 Million Buys includes a Falls Chuch home reminiscent ... read »
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro